Sukuk under the programme will have a tenure of one to 20 years, and will be sold on a bought-deal basis through book building or private placement. Funds raised will go towards general corporate purposes.

The sukuk murabaha will be issued through TF Varlik Kiralama, a wholly-owned unit of Turkiye Finans. Malaysia’s RAM Ratings has accorded the programme an indicative long-term rating of AA3.